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I just pulled my TU credit to see how my score is doing now that I have the new Walmart Discover card and the score is exactly the same as it was last month and the month before??? Why would it not increase at all? I used it when I first got it (last month) and PIF when I received the statement. Since getting the card it of course increased ?ratio? (not sure the terminology for this) but not even 1 or 2 lousy points in the last 2 months for this? I was hoping to see some type of increase. Is this normal?
I would say it's very normal, of course the score is calculated by using information from all your accounts, not just walmart. If your balances are staying around the same amount and nothing much has changed, then a stale score is quite common. I've had mine stay the same for up to six months at a time before.
All of the other accounts are the same. Everything is paid in full and the same as it has been for over a year, I only have the 2 credit cards and my student loan (not paying on yet because I'm still a student). I just expected to see an increase of something since the new Discover card. That is the change, which I thought would make my score go up by adding another cc and making my CL total overall be higher.
Start letting a balance report. Up to 9% of your limit should report for best scoring.
It's not uncommon once you've gotten to steady state on your reports for one's FICO to stay mostly the same. My EQ score was 646 for several months in a row recently as an example, and that's only going to get worse as my credit report becomes more established.
With the algorithm's implementation (diminishing returns everywhere!) it becomes harder to continue increasing your score, and as a result it'll appear to flatline more often.
A little upset that the 3rd month in a row and no change yet after adding another $800 cc.
Waiting for your creditscore to go up is like watching grass grow....... I think I need to find a new hobby other than staring at this message board sometimes.
@jbrickbm wrote:Waiting for your creditscore to go up is like watching grass grow....... I think I need to find a new hobby other than staring at this message board sometimes.
LOL, I think I would get better results watching my grass grow!!
FINALLY....4 months later and my score finally moved. I gained 10 points this month after being stuck. Woo Hoo.